Suppose you see Citibanks USD-denominated 5-year interest rate swap numbers quoted at 4.15% bid and 4.25% ask. Mary tells you that the relevant fixed-rate in the swap she just entered into is 4.25%. Did Mary buy or sell the IRS she just entered?

IF Mary (from Q1) is a speculator, is Mary betting on/forecasting a decline in interest rates or betting on/forecasting a rise in interest rates?

Please write a full explanation